Chevron, ExxonMobil, and Royal Dutch Shell will finalize agreement next week on development of an enormous Australian natural gas field, the Wall Street Journal and the Financial Times reported today, The Gorgon field is thought to contain on the order of 40 billion cubic feet of natural gas, the equivalent of 6.7 billion barrels of oil, and will cost in excess of $40 billion to exploit. Together with about a dozen other major gas projects in Australia, Gorgon may soon make the country the world’s leading exporter of LNG—and its exports will help a number of major Asian economies somewhat lesson their dependence on dirty, carbon-intense coal. According to Chevron, leader of the Gorgon project, long-term contracts already have been secured with customers in China, Japan, South Korea, and India, and more such contracts are in the works.
IEEE Spectrum’s energy, power, and green tech blog, featuring news and analysis about the future of energy, climate, and the smart grid.
Newsletter Sign Up
Sign up for the EnergyWise newsletter and get biweekly news on the power & energy industry, green technology, and conservation delivered directly to your inbox.
Japan's Utilities Suffer Staggering Losses
Can a big nuclear order from Turkey be viewed as a vote of confidence?
Gas Ads Revisited
Times conservative columnist David Brooks concurs on virtues of a carbon tax, with no special deals for industry groups
Siemens Natural Gas Plant Sets New Efficiency Record
Bavarian plant achieves 60 percent efficiency
Exxon and Palin Take (Green) Gas a Step Forward
Oil giant joins mega-project to bring natural gas from Alaska's North Slope to Lower 48
That Radical Decoupling of Gas and Oil Prices
Natural gas and oil normally trade in a well-defined range, but recent gas prices are sharply below the historic norm
Russia Rules Eurasian Gas Roost
Russia's dominance of Eurasian markets means long-term trouble
Those Natural Gas Image Ads
Thought you knew that natural gas is clean, low-carbon, and relatively inexpensive? Wondering why the industry is using money from your gas payments to convince you that buying gas is a good idea? Ever dream that you were living in an entirely different universe?
Smart Grid Promises Substantial Carbon Abatement
Laboratory's estimates depend on full implementation of all smart grid technologies, a big if
Carolina Energy Company to Shutter Coal Plants
Decision is a bellwether of several big important trends in electric power
Seeks to expose and denigrate the role of corporate lobbying in climate policy
Coal and Cancun
Politics and economics are pointing in opposite directions
Gas Fracking Documentary Finds Nationwide Problems
Concerns about water and air pollution are not unique to the Marcellus or Barnet shale wells
Natural Gas's Contested Potential
Estimates of recoverable reserves are radically higher, but can the gas actually be recovered without dirtying water and air, or undermining cherished ways of life?
The Fiat 500 Runs on Gas--and Soon, Natural Gas
Fiat's 500 burns the cleanest fossil fuel around
New York Gas Drilling Decision Cuts Both Ways
Removal of city watershed from comprehensive environtmental review could kill gas fracking in that region--or expedite it
Gas Up, Coal and CO2 Down Sharply
Latest data show an astonishingly fast switch from coal to natural gas in the United States
MIT Weighs In on Natural Gas
It too sees huge potential in fracking if concerns are assuaged
Siemens Enters U.S. Market with Super-efficient Turbine
Latest version has achieved an eye-popping 60 percent efficiency
On Second Try, NASA Manages to Blow Up Inflatable ISS Module
After many dull hours of work, astronauts on the ISS successfully inflate the BEAM module